Duties of directors
13 Duties of directors
A director must act honestly, exercise reasonable care and be diligent in the performance of the functions, and the exercise of the powers, of a director. Fine not exceeding 50 penalty units.
A director must not improperly use information acquired as a director – to gain, directly or indirectly, a personal advantage or an advantage for another person; or to cause damage to the Authority. Fine not exceeding 100 penalty units or imprisonment for a term not exceeding 5 years, or both.
A director must not improperly use his or her position as a director – to gain, directly or indirectly, a personal advantage or an advantage for another person; or to cause damage to the Authority. Fine not exceeding 100 penalty units or imprisonment for a term not exceeding 5 years, or both.
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